Commercial Seaweed Market - By Product (Brown, Red, Green), By Form (Dry, Wet), By End User (Animal Feed, Food, Biofuels, Pharma & Personal Care) & Forecast, 2021-2027

Industry Trends

Commercial Seaweed Market size was estimated to be valued at over USD 40 billion in 2020 and is set to register around 9.6% CAGR from 2021 to 2027. Growing demand for eco-friendly fertilizers and rising application in different industry verticals is expected to drive the overall market size.
 

The commercial seaweed industry will witness promising growth which is attributable to its extensive usage as a particle suspension and emulsifying agent, thickener, stabilizer, and protein stabilizer in dairy products, salad dressings, ice cream, chocolate milk, and other processed food items.
 

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Seaweed is an umbrella term for a group of multi-cellular, macroscopic, and marine algae, which are found in various shades of red, green, and brown. They may be shaped as delicate fingers, spheres, broad leaves, or may resemble fruit. Although seaweeds have been consumed for several centuries as a key source of food, they are being increasingly used on a commercial level. They find extensive applications in the food & beverages sector for their hydrocolloid properties along with several applications in various industries, including cosmetics, personal care, animal feed & additives, agriculture, and pharmaceuticals.
 

Seaweed usage as fertilizer, supports the agricultural industry by enhancing the output in limited cultivable land to meet the growing food demand. Since sustainable agricultural practices are being hindered due to a massive decline in soil fertility, there is a high demand for effective fertilizers for increased yield and food security. This, in turn will support commercial seaweed market expansion during the estimation timeline.
 

Coronavirus outbreak is disrupting the industry supply chain

The COVID-19 pandemic has affected various industry verticals owing to the temporary shutdown of a large number of production facilities. This resulted in the disruption of supply chain and a gap in the demand-supply dynamics. The global commercial seaweed market has sustained severe hits due to the low demand from domestic and overseas markets. However, the market is anticipated to gain momentum by the end of the forecast period as the COVID-19 situation normalizes.
 

Brown seaweed to witness substantial demand in the future

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Commercial seaweed market from brown seaweed segment generated around USD 20 billion in 2020. All brown seaweeds contains alginic acid or alginates, which are extensively utilized for several commercial applications and can be extracted from various brown algae, such Ascophyllum, Laminaria, and Macrocystis, among others. These acids are used in food products, such as ice cream in order to prevent ice crystallization and to achieve a smooth texture. Furthermore, the product finds application as a thickener and emulsifier in syrups, and as a filler in salad dressings and candy bars. The usage of alginic acid in lithium-ion batteries is anticipated to further drive the consumption of brown seaweeds in the coming years.
 

Food sector to fuel the product demand

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Commercial seaweed market from food industry is projected to surpass the annual demand of over 20.5 kilo tons by 2027. The segment includes direct food and food additives, which have been consumed as a staple food product in countries like Japan, Korea, and China. In Japan, seaweeds account for over 8% of the total diet, with consumption having witnessed around 20% growth over the last decade, reaching an average of 3.3 kg per household.
 

The animal feed segment is anticipated to exhibit high growth potential in the coming years. In coastal regions, seaweed is utilized as an animal feed additive in large quantities. It comprises a large number of necessary vitamins & minerals, such as phosphorous, potassium, magnesium, chlorine, calcium, sodium, and sulfur. Additionally, the growing need to mitigate climate change in conjunction with supportive government policies & initiatives will trigger biofuel production, thereby driving the commercial seaweed industry expansion.
 

Asia Pacific to generate significant demand throughout the forecast timeline

Asia Pacific commercial seaweed market is expected to witness around 10% CAGR from 2021 to 2027. The use of seaweed as a food source in Asian countries, such as China, Japan, and the Republic of Korea has strong roots and is a key growth enabling factor for the increasing product demand in the region. In Asia Pacific, China remains the largest producer & consumer followed by Japan, South Korea, and Indonesia. Positive trends associated with the food industry triggered by a huge population are bound to boost the regional market statistics in the upcoming years.
 

Middle East & Africa commercial seaweed market is at nascent stage and will exceed USD 1 billion by 2027. The product is yet to attain extensive acceptance in the food sector. Increasing consumption of nutritious foods and changing consumer demographics will create demand for novel food ingredients & recipes.
 

Strategic initiatives to strengthen the market foothold of key players

The commercial seaweed market participants are involved in several strategic initiatives, such as mergers, acquisitions, geographical expansion, partnerships and production capacity expansion among others. These key developments are likely to reinforce the market position of major manufacturers in order the improve the business profitability. For instance, in March 2021, Arcadian Seaplants Ltd. announced to double the production capacity of Deveau Center.
 

Some of the key players in the commercial seaweed industry include, Indigrow Ltd., Seasol International, Seaweed Energy Solutions AS, Chase Organics GB Ltd., Aquatic Chemicals, Acadian Seaplants Ltd. (ASL), Pacific Harvest, Mara Seaweed, Algea AS, BIOSTADT INDIA LIMITED, W Hydrocolloids, Inc., Marcel Carrageenan and CP Kelco.
 

The commercial seaweed industry research report includes in-depth coverage of the industry with estimates & forecasts in terms of volume in Thousand Tons and revenue in USD Million from 2017 to 2027 for the following segments:

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Market, by Product

• Brown seaweed
• Red seaweed
• Green seaweed

Market, by Form

• Dry
• Wet

Market, by End-user

• Animal Feed
• Food
• Biofuels
• Pharma & personal care
• Others

The above information has been provided on a regional and country basis for the following:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Norway
  • Ireland
• Asia Pacific
  • China
  • India
  • Japan
  • Indonesia
  • Thailand
  • South Korea
• Latin America
  • Brazil
  • Chile
  • Mexico
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • Oman
  • UAE